S6 Ep02 PAA 2022 Pilates Industry Content: Nick Formichella

Pilates Association Podcast

Many Pilates business owners confess that the financial aspect of running their business is often the most challenging. Their forte lies in engaging in and teaching a movement based practice that focuses on human movement, bodily kinesthetic intelligence, and interpersonal skills. It is a far cry from number crunching and although some may be fortunate enough to be skilled in this field, others find the financial side of business operations daunting to say the least. For instructors who do not have backgrounds in business, finance or accounting, the thought of developing a business mindset and the skills needed to create and maintain a viable business can be overwhelming, especially if they have not been business owners previously. In this podcast episode we address this issue by exploring the things that should be considered when opening a Pilates studio, namely the financial considerations.
Our guest on this episode is Nick Formichella, a chartered accountant based in Adelaide, who has been running his own practice BCFR Chartered Accountants for 30 years. Nick's clients have ranged from those who simply require individual tax returns to publicly listed companies. He has also worked with small to medium sized businesses.
The PAA strives to continue promoting the expansion of the Pilates Method as a professional and valued healthcare and fitness discipline. The goal of the PAA podcast is to explore the many facets and layers of the Pilates industry through conversations with the community.

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